U.S. residents are about to start enjoying the convenience of purchasing Bitcoin, according to the latest update on the leading cryptocurrency.
Through the enterprise payments giants NCR partnership with New York Digital Investment Group (NYDIG) and, bitcoin purchase will be possible through 650 U.S. Banks.
NCR to Provide Trading Platform while NYDIG Custody Services
Atlanta-based NCR will provide a mobile application where customers can trade cryptocurrencies through the included banks.
NYDIG, on the other hand, will provide custody services for holding Bitcoin for the bank customers. Through NYDIG services, the banks will not have to worry about the complicated regulatory requirements of holding cryptocurrency. In return, NYDIG will collect revenue via transaction fees and other extra investment services.
The 650 chosen include community banks like the North Carolina-based First Citizens Bank and credit unions like Bay Federal Credit Union.
Banks are recognizing the increasing popularity of cryptocurrencies and the demand to invest in them. Customers a responding to this demand by removing funds from their bank accounts and depositing them to crypto exchange platforms.
Enterprise payments giant NCR recognized banks’ desire to provide crypto services to their clients. With this NCR partnership with NYDIG, bank customers can buy, hold, and eventually spend cryptocurrency using their existing accounts.
Atlanta-Based NCR Targeting Custody of Its Own Assets in the Future
The president of digital banking in NCR Douglas Brown commented that the enterprise payments giant believes firmly in crypto and strategic application. NCR plans to expand the feature to be able to take custody of its own assets in the future.
Additionally, it also plans to leverage blockchain technology and other distributed ledger technologies for its other non-crypto transactions.
Apart from financial services, NCR is also the largest point-of-sale software provider to grocery and other retail stores.
In May, enterprise payments giant NCR partnered with Flexa to allow crypto payments to customers. Among the digital coins included were Bitcoin, Ether, Litecoin, Dogecoin, and many more. The recent NCR partnership with NYDIG is one more step into crypto.